How to Get Rich With GPTs in 2024 | Complete Beginner's Guide (OpenAI Custom GPTs)

Liam Ottley
17 Jan 202481:23

TLDRIn this comprehensive tutorial, Liam Otley, a seasoned online entrepreneur and head of Morning Side AI, unlocks the potential of OpenAI's GPT store, a pivotal moment likened to the launch of Apple's App Store. With the simplicity of creating GPTs, Liam guides beginners through building valuable GPTs that stand out, ensuring passive income in the burgeoning AI market. From foundational knowledge, necessary skills, to creation techniques, this video promises a detailed roadmap for leveraging GPT technology, making it accessible for anyone eager to capitalize on AI's transformative power, regardless of their coding background.

Takeaways

  • 🚀 OpenAI's GPT Store is likened to the App Store moment for AI, offering unprecedented opportunities for creators.
  • 💻 Skills for creating valuable GPTs for the GPT Store can be learned quickly, contrasting the longer learning curve for traditional app development.
  • 💰 Liam Otley, the speaker, shares his success in making nearly half a million dollars from AI chatbots and aims to guide beginners on making money with GPTs.
  • 📚 Including expert knowledge and custom actions makes GPTs more valuable and unique, standing out in the GPT Store.
  • 🛠 The GPT Store offers revenue sharing, rewarding creators for building valuable and frequently used GPTs.
  • 📈 Market dynamics for new platforms suggest that early creators have a significant advantage in capturing value.
  • 📍 Creating a GPT involves assembling three key ingredients: prompting, knowledge, and actions, for effective functionality.
  • 🔧 Deploying GPTs outside the GPT Store, such as on websites or other platforms, expands their utility and monetization potential.
  • 💎 Specializing in a niche and building a portfolio around it can enhance a creator's success and visibility in the GPT Store.
  • 📲 Agentive by Morningside AI simplifies deploying AI agents, allowing creators to bring GPTs to various platforms easily.

Q & A

  • What is the main goal of the video tutorial?

    -The main goal of the video tutorial is to teach viewers everything about building GPTs and making money from them as a beginner, focusing on creating valuable GPTs that stand out from the competition.

  • Who is Liam Otley, and what is his experience with AI?

    -Liam Otley runs his own AI agency called Morning Side Ai and the largest community of AI agency owners in the world. He has been doing online business for 5 years, sold nearly half a million dollars worth of AI chatbots, and taught his community how to sell AI solutions.

  • What makes GPTs (like ChatGPT) distinct according to the video?

    -GPTs are distinct because they are customized versions of ChatGPT modified to be better at specific tasks or more helpful to certain types of people, utilizing three key ingredients: prompting, knowledge, and actions.

  • How does the video describe the 'App Store moment for AI'?

    -The 'App Store moment for AI' refers to the launch of the GPT store by OpenAI, likened to Apple's launch of the App Store in 2008. It suggests a major opportunity for creators to generate wealth by developing and offering their own GPT applications on this new platform.

  • What are the three ingredients of a GPT mentioned in the video?

    -The three ingredients are prompting (to give detailed instructions), knowledge (allowing GPT to draw information from documents), and actions (special functions outside of text responses).

  • Why is it important to create unique and valuable GPTs according to the video?

    -Creating unique and valuable GPTs is important because it allows them to stand out from the competition in the GPT store, attracting more users and generating passive income for the creator.

  • What skills does the video emphasize are needed to succeed as a GPT creator?

    -The video emphasizes market research, data sourcing, prompt engineering, tool creation, and GPT marketing as key skills needed to succeed as a GPT creator.

  • What future proof skills does the video suggest learning for making money online in 2024 and beyond?

    -The video suggests learning AI agent creation, emphasizing its importance in building, selling, and implementing AI solutions for businesses as a future-proof skill for making money online.

  • What does the video say about deploying GPTs outside of the GPT platform?

    -The video mentions the concept of 'jailbreaking' GPTs to use them outside of the GPT platform, like on websites or other platforms, highlighting this as a valuable skill for applying GPT technology in various business applications.

  • What opportunities does Liam see with the advent of GPT store and AI agents?

    -Liam sees the advent of the GPT store and AI agents as a massive opportunity to create wealth by being early creators on these platforms, akin to early developers on the App Store, and by selling AI agent solutions to businesses.

Outlines

00:00

🚀 The GPT Store Opportunity

OpenAI's release of the GPT Store is likened to Apple's App Store launch, presenting a significant opportunity for individuals to create and monetize GPTs with minimal learning curve. Unlike traditional app development, which requires extensive software engineering knowledge, creating for the GPT Store can be learned quickly, offering a new avenue for generating income. The video emphasizes the importance of creating valuable and unique GPTs to stand out in the competitive landscape and achieve long-term passive income.

05:01

🛠 Creating Valuable GPTs

The process of creating standout GPTs involves three key ingredients: prompting, knowledge, and actions. Prompting allows for detailed control over GPT behavior, knowledge enables GPTs to draw from specific documents for responses, and actions extend GPT capabilities beyond text responses. The video outlines the necessity of mastering these elements to create GPTs that offer real value, highlighting that unique or hard-to-replicate knowledge sources and custom actions are critical for creating GPTs that attract users and retain their interest over time.

10:03

🌐 The App Store Moment for AI

Comparing the GPT store's launch to the iconic debut of Apple's App Store, the video discusses the immense wealth creation opportunities that arise with new platforms. It delves into historical examples where early adopters capitalized on emerging platforms, from the internet boom to mobile apps and social media. This segment emphasizes the potential for the GPT store to become a similar catalyst for financial success, urging viewers to act swiftly to leverage this nascent opportunity.

15:04

💼 Monetizing GPT Skills Beyond the Store

Highlighting the broader application of GPT creation skills, the video explains how the ability to create AI agents is increasingly valuable, not just for personal use but as a service to businesses. With AI technology advancing rapidly and companies like Google and OpenAI betting big on AI agents, those proficient in creating GPTs can capitalize on this demand by offering customized AI solutions to businesses. The segment encourages viewers to see beyond the GPT store, focusing on the lucrative potential of AI agent development and deployment.

20:05

📈 Market Dynamics and Creating Unique GPTs

The video explores the competitive landscape of the GPT store, predicting phases where initial simple GPTs will give way to more complex and unique offerings as the market matures. It stresses the importance of creating GPTs with unique value propositions, either through exclusive data, unique combinations of knowledge, or novel actions and tools. The segment serves as a strategic guide for viewers to navigate the evolving GPT marketplace effectively.

25:07

🛠️ Mastering GPT Creation Skills

Delving into the technical aspects of creating distinguished GPTs, this section covers the essential skills for success in the GPT store and AI agent market. It emphasizes the importance of market research, data sourcing, prompt engineering, tool creation, and effective marketing. By mastering these skills, individuals can create GPTs that stand out in the crowded market, enhancing their potential for generating significant revenue.

30:07

🔍 Deploying GPTs and AI Agents

This final segment transitions from creating GPTs to deploying AI agents in practical, real-world applications. It introduces agentive, a platform for easily deploying AI agents across various interfaces like websites and social media. The video provides a step-by-step guide on using agentive to bring GPTs out of the OpenAI environment and into direct use cases, broadening the scope of opportunities for monetizing AI skills.

Mindmap

Keywords

💡GPT Store

The GPT Store is conceptualized as an online marketplace for GPT (Generative Pre-trained Transformer) applications, drawing a parallel to Apple's App Store. It signifies a pivotal moment for AI, where creating and selling AI-driven applications becomes accessible to a broader audience, not just skilled developers. The GPT Store allows individuals to monetize their GPT-based creations, aiming to democratize the benefits of AI advancements. This concept highlights the potential for generating passive income through innovative, value-added GPT applications.

💡Passive Income

Passive income, within the context of the video, refers to the financial returns generated from GPT-based applications created for the GPT Store. Unlike active income, which requires continuous labor, passive income streams, once established, provide ongoing financial benefits with minimal additional effort. The video emphasizes the opportunity to create GPT applications as a means to secure such income, stressing the importance of developing unique and valuable GPTs to stand out and succeed in this emerging market.

💡AI Agency

An AI agency specializes in developing and implementing artificial intelligence solutions for businesses. The video introduces the concept of an AI agency as a lucrative business model, leveraging the creation and sale of GPT-based applications to clients. Running an AI agency involves identifying business needs that can be addressed with AI, creating tailored GPT solutions, and providing ongoing support. The speaker, owning an AI agency, highlights the potential for significant revenue and the opportunity to influence the AI market positively.

💡AI Agents

AI agents, as discussed in the video, are advanced forms of chatbots enhanced with specific skills, knowledge, or tasks through GPT technology. They represent a shift from generic AI chatbots to more specialized and purpose-driven AI tools. These agents can interact with external APIs, process complex data, and perform actions beyond mere conversation, offering a broad range of applications from customer service to data analysis. The development and deployment of AI agents are framed as a significant business opportunity within the AI landscape.

💡No Code GPT Development

No code GPT development refers to the process of creating GPT applications without the need for traditional coding skills, making it accessible to a wider audience. The video underscores that the essential skills for building GPTs for the GPT Store can be acquired quickly, contrasting with the extensive learning curve associated with traditional app development. This approach democratizes access to AI development, allowing individuals without a software engineering background to participate in the AI boom and potentially generate income.

💡Value Creation

Value creation in the context of the GPT Store involves developing GPT applications that provide unique and substantial benefits to users, distinguishing them from the competition. The video emphasizes that success in the GPT Store not only depends on the ability to create GPTs but also on creating GPTs that deliver real value, whether through enhanced efficiency, novel functionalities, or solving specific problems. This concept is crucial for generating sustainable passive income in the crowded marketplace.

💡Three Ingredients of GPT

The 'three ingredients' of a GPT, as explained in the video, include prompting, knowledge, and actions. These elements are fundamental in customizing GPT applications to perform specific tasks or serve particular industries. Prompting involves giving detailed instructions to define the GPT's behavior; knowledge refers to the information sources the GPT can draw from; and actions are the tasks or functions the GPT can execute. Understanding and manipulating these ingredients are key skills for creating valuable and effective GPTs.

💡AI Agents Creation

AI agent creation involves designing and developing AI-driven applications that can perform a wide range of tasks, from customer interactions to complex data analysis. The video presents AI agent creation as a lucrative skill, emphasizing the growing demand for bespoke AI solutions across industries. By mastering GPT and AI agent creation, individuals can tap into a burgeoning market, offering tailored solutions that address specific business challenges and opportunities.

💡Deployment Techniques

Deployment techniques refer to the methods used to integrate and launch GPT applications and AI agents across various platforms, such as websites, mobile apps, or social media channels. The video highlights the importance of not only creating valuable GPTs but also effectively deploying them to maximize reach and impact. Techniques may involve using APIs, widgets, or custom code to embed AI functionalities where they can best serve users and generate income.

💡Revenue Sharing

Revenue sharing in the context of the GPT Store is the mechanism through which creators of GPT applications can earn money from their work. The video mentions that OpenAI has announced plans to share a portion of its revenue with developers based on the usage and value their GPT applications provide. This model incentivizes creators to develop high-quality, innovative GPTs, as their income potential is directly tied to their applications' success and utility in the marketplace.

Highlights

OpenAI has released the GPT Store, marking a significant moment for AI, similar to Apple's App Store launch in 2008.

Skills required to create for the GPT Store can be learned in a couple of hours, unlike years of software engineering.

The challenge lies in creating valuable GPTs that stand out and generate passive income.

Liam Otley runs Morning Side AI and teaches how to make money by selling AI solutions to businesses.

The demand for AI agents equipped with tools and knowledge is significantly increasing.

GPTs are essentially customized versions of ChatGPT, tailored to perform specific tasks or cater to particular types of users.

Popular GPTs include Canvas GPT for design, Grimoire for engineering, and Designer GPT for web development.

Creating GPTs involves mastering the three ingredients: prompting, knowledge, and actions.

AI agents are designed to perceive their environment and take actions to achieve specific goals, similar to chatbots but more advanced.

The GPT Store presents an enormous opportunity, likened to the early days of the Apple App Store.

Revenue sharing for GPT creators by OpenAI could potentially offer a new income stream.

Mastering the skills to build AI agents is seen as one of the most valuable skills for the future.

Selling AI agents to businesses opens up vast opportunities for monetization beyond the GPT Store.

A step-by-step guide is provided for creating a GPT, incorporating all necessary features for a beginner to start making money in 2024.

The video tutorial covers from the basics of what a GPT is, to advanced deployment techniques for making money with GPT.

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